WDRA launches Electronic Negotiable Warehouse Receipt System

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Consumer Affairs and Food Minister Ram Vilas Paswan launched the Electronic Negotiable Warehouse Receipt (e-NWR) System that offers multiple benefits to farmers those who have stored their produce in warehouses registered with Warehousing Development and Regulatory Authority (WDRA).

The minister also unveiled the web portal of WDRA for registration of warehouses in a speedy and transparent manner.

The Minister informed that the e-NWRs will have no chances of any tempering, mutilation, fudging, loss or damage. He said these NWRs will not only facilitate an easy pledge financing by banks and other financial institutions but also smooth trading on various trading centres like commodity exchanges, electronic National Agriculture Markets (e-NAM).

Paswan expressed hope that these initiatives will revolutionise the marketing of agricultural commodities and help farmers realize better price for their produce which will be a step towards doubling their income by 2022 as well as Digital India mission as envisaged by the Prime Minister.